From Khaleejtimes.com: Nakheel, the developer behind Dubai’s palm-shaped islands, is expected to achieve 95 per cent of acceptance of trade creditors in the next three months, the company said. Nakheel, a unit of Dubai World, needs 95 per cent agreement with trade creditors for the restructuring of its $10.5 billion worth of debt.
“Nakheel has approximately 91 per cent (by value) of acceptances and is working closely with the rest of our trade creditors to achieve its 95 per cent acceptance of all payables and claims by end of first quarter of current year,” a Nakheel spokesperson said on Sunday..............................................Full Article: Source